Thermal Energy Storage (TES): Market Research Report

January 2019 | 245 pages | ID: T8B2FFEAAB3EN
Global Industry Analysts, Inc

Abstracts

This report analyzes the worldwide markets for Thermal Energy Storage (TES) in US$ Million and Megawatts (Capacity Installations). The report further analyzes the Global and regional markets in terms of volume (Capacity Installations in Megawatts) by the following Technology Segments: Sensible Heat, and Others.

The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for the period 2015 through 2024. Market data and analytics are derived from primary and secondary research.

Company profiles are primarily based on public domain information including company URLs. The report profiles 47 companies including many key and niche players such as -

• Abengoa Solar, S.A.
• AREVA NP SAS
• Baltimore Aircoil Company, Inc.
• BrightSource Energy, Inc.
• Burns & McDonnell, Inc.
• Caldwell Energy Company

Contents

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

Study Reliability and Reporting Limitations
Disclaimers
Data Interpretation & Reporting Level
Quantitative Techniques & Analytics
Product Definitions and Scope of Study
Sensible Heat Storage
Others
Thermo Chemical Heat Storage
Latent Heat Storage

II. EXECUTIVE SUMMARY

1. INDUSTRY OVERVIEW

Thermal Energy Storage (TES): Efficient and Economical Capture of Energy during Lean Period for Fueling Cooling Needs of the Peak Period
Superior Attributes and Multiple Benefits of Thermal Energy Storage Technology Drive Widespread Market Adoption
Thermal Energy Storage Stay Relevant Despite Rising Popularity of Battery Storage
Major Benefits of Thermal Storage
Cost-Effective
Energy Efficient
Ancillary Benefits
Grid Benefits
Benefits to Service Providers
Social and Environmental Benefits
Expanding Share of Intermittent Renewable Energy Sources and the Resulting Need for Energy Storage: The Fundamental Growth Driver

Table 1. Global Energy Production by Energy Source (2017, 2020, 2030 and 2040): Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share for Petroleum, Nuclear, Natural Gas, Coal and Renewables (includes corresponding Graph/Chart)

Table 2. Targets for Electricity Production from Renewable Energy Sources Worldwide by Country

Booming Renewable Energy Sector Benefits Penetration of Energy Storage Technologies
Major Growth Driving Factors for Energy Storage
Energy Storage Technologies: Classification
Key Energy Storage Technologies & Applications for Electrical, Chemical, Electrochemical, Mechanical and Thermal Energy
Thermal Energy Storage Vital for Development Efficient, Disruption-Resistant Grids
Global Market Outlook
Developing Regions of the World Offers Huge Untapped Market Growth Potential for TES
Asia-Pacific
Eastern Europe and Central Asia
Latin America and Caribbean
Sub-Saharan Africa
Middle East and North Africa (MENA)

2. MARKET TRENDS, ISSUES & DRIVERS

Growing Investments in Renewable Energy Projects Drive Strong Demand for Thermal Energy Storage Solutions

Table 3. Renewable Investments and Deployed Capacity Worldwide (2015 & 2017): Investments (US$ Billion) and Breakdown of Deployed Capacity (GW) for Solar, Wind, Hydropower, and Biomass (includes corresponding Graph/Chart)

Table 4. Global Number of Grid Connected Energy Storage Projects by Region/Country: 2017 (includes corresponding Graph/Chart)

Table 5. Global Investments in Electricity Networks and Storage (In US$ Billion): 2000, 2008, 2012, 2016, and 2018 (includes corresponding Graph/Chart)

Table 6. Global Grid Connected Energy Storage by Technology: Percentage Breakdown of Installed Capacity for 2014, 2017 and 2020 (includes corresponding Graph/Chart)

Need for Improved Energy Management amidst Increasing Demand for Electricity Benefits Market Expansion
TES at Grid and Distributed Energy Levels

Table 7. Global Energy Demand & Growth (In Million Tonnes of Oil Equivalent (Mtoe)) for the Years 1990, 2000, 2010, 2020, 2030 and 2040 (includes corresponding Graph/Chart)

TES Systems’ Efficiency in Managing Inconsistencies of Wind and Solar Power Generation Spurs Market Demand

Table 8. Global Levelized Cost (US$ Per MWh) of Energy Storage Technologies in Utilities by Type: 2015 and 2030 (includes corresponding Graph/Chart)

Table 9. Global Wind and Solar Installed Capacity (GW) for the Years 2011, 2017, 2020 and 2022 (includes corresponding Graph/Chart)

Thermal Energy Storage Pairing with Solar Generation: Opportunities Galore for Electric Utilities
Important Role of TES Systems in Commercialization of Solar Thermal Energy Plants
Despite Competition from Latent Heat Storage, Sensible Heat Technology Sustains Dominance

Table 10. Various Thermal Storage Technologies: Brief Details of Efficiency, Storage Time, Power and Capacity

Growing Trend towards Green/LEED Buildings Offer Lucrative Market Growth Opportunities
TES Techniques Offer Increased Efficiency in Buildings
Phase Change Materials-Based Systems Gain Prominence over Molten Salt-Based Thermal Storage
Demand for TES in Residential-Commercial HVAC and Commercial Refrigeration Systems on the Rise
TES’ Energy Efficiency Augments its Application
TES Set to Address Peak Demand for Air Conditioning
Utility Load Factors
Stable and Secure Grid
Impact of Climate Change on Air Conditioning
Developments in Controls
Thermal Energy Storage Offers Cost and Energy Savings to the Cold Storage Sector
Evolving IoT Standard and Upcoming Smart Cities to Fuel Large-Scale Adoption

Table 11. Number of Smart Cities Worldwide (2013-2020) (includes corresponding Graph/Chart)

Table 12. Number of Smart Cities Worldwide by Geographic Region (2025) (includes corresponding Graph/Chart)

Thermal Energy Storage Generate Substantial Savings for Educational Institutes
Rising Deployments of Smart Grids Augurs Well for TES Market Growth

Table 13. Global Spend on Smart Grid Technologies by Region (2014, 2017 & 2020): Cumulative Spending (in US$ Billion) for Asia-Pacific (incl. China), Europe, Latin America, and North America (includes corresponding Graph/Chart)

Favorable Demographic and Urbanization Trends Aid Market Growth

Table 14. Global Population Estimates (in Billion): 2000, 2010, 2017E, 2030P, and 2050P (includes corresponding Graph/Chart)

Table 15. Total Population Worldwide by Urban and Rural Population in Thousands: 1950-2050P (includes corresponding Graph/Chart)

Key Factors Hampering Market Prospects for TES Technologies

3. INNOVATIONS & ADVANCEMENTS

Compact TES for Higher Efficiencies and Cleaner Energy
‘FES’ (Future-Energy-Solution) TES Technology
A Resorption TES System for Seasonal Storage
Novel PTC (Parabolic-Trough-Collector) for Residential Solar Heating
Graphite-Enhanced PCM for Better Storage Results in TES
Twenty Times Increase in Solar TES Capacity Using Graphite Foam
PCM-TES for Baby Incubators
Cost-Effective and Eco-Friendly TES Systems
Novel Thermal Energy Storage System from NEST

4. PRODUCT OVERVIEW

Introduction to Energy Storage
Thermal Energy Storage: A Prelude
Thermal Energy Storage for Low-, Mid- and High-Temperature Applications
Space Consumption and Maintenance of TES Systems
Thermal Storage Technologies
Sensible Heat Storage
Latent Heat Storage
Thermo Chemical Heat Storage
TES Systems for Ice/Cool Storage
Types of Ice Thermal Storage Systems
Advantages of Ice Thermal Storage
Low Cost of Construction
Small Chillers/Heat Rejection Equipment
Reduced Pipe and Pump Sizes
Low Cost of Energy
Shift in Energy Usage
Energy Savings
Other Advantages
Solar Power TES Systems
Two-Tank Direct System
Two-Tank Indirect System
Single-Tank Thermocline System
Inter-Seasonal Thermal Storage Systems
Small-Scale Thermal Energy Storage (TES) Systems
High-Temperature Thermal Energy Storage
Full and Partial Thermal Energy Storage Systems
Thermal Storage Media
Ice/Ice Crystals
Concrete
Gravel
Phase Change Materials
Rock Strata
Costs of TES Systems

5. PRODUCT INNOVATIONS/INTRODUCTIONS

Siemens and AES Establish Fluence
Ice Energy Introduces Residential Ice Storage

6. RECENT INDUSTRY ACTIVITY

Ingersoll-Rand Takes Over CALMAC
Genbright Partners with Ice Energy
Ice Energy Partners with NRG Energy
Siemens Unveil Thermal Storage System for Wind Power
Con Edison Incentivizes Thermal Energy Storage Installations
Axiom Exergy Raises Funds for Thermal Energy Storage
Ice Energy Joins Community Storage Initiative
Masdar Institute Signs Agreement with EnergyNest

7. FOCUS ON SELECT GLOBAL PLAYERS

Abengoa Solar, S. A. (Spain)
AREVA NP SAS (France)
Baltimore Aircoil Company, Inc. (USA)
BrightSource Energy, Inc. (USA)
Burns & McDonnell, Inc. (USA)
Caldwell Energy Company (USA)
CALMAC Corporation (USA)
Chicago Bridge & Iron Company N. V. (The Netherlands)
DC Pro Engineering LLC (UAE)
DN Tanks, Inc. (USA)
Dunham-Bush Holding Bhd (Malaysia)
EnergyNest AS (Norway)
Evapco, Inc. (USA)
FAFCO, Inc. (USA)
Finetex EnE Inc. (South Korea)
Goss Engineering, Inc. (USA)
Ice Energy, Inc. (USA)
Siemens AG (Germany)
SolarReserve, LLC (USA)
Steffes Corporation (USA)
Sunwell Technologies Inc. (Canada)
TAS Energy Inc. (USA)

8. GLOBAL MARKET PERSPECTIVE

A. Volume Analytics

Table 16. World Recent Past, Current & Future Analysis for Thermal Energy Storage by Geographic Region/Country - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Installed Capacity in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)

Table 17. World 10-Year Perspective for Thermal Energy Storage by Geographic Region/Country - Percentage Breakdown of Megawatt Installed Capacity for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)

Thermal Energy Storage Market by Technology

Table 18. World Recent Past, Current & Future Analysis for Sensible Heat Technology by Geographic Region/Country - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Installed Capacity in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)

Table 19. World 10-Year Perspective for Sensible Heat Technology by Geographic Region/Country - Percentage Breakdown of Megawatt Installed Capacity for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)

Table 20. World Recent Past, Current & Future Analysis for Other Technologies by Geographic Region/Country - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Installed Capacity in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)

Table 21. World 10-Year Perspective for Other Technologies by Geographic Region/Country - Percentage Breakdown of Megawatt Installed Capacity for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)

B. Value Analytics

Table 22. World Recent Past, Current & Future Analysis for Thermal Energy Storage by Geographic Region/Country - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Revenue Figures in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)

Table 23. World 10-Year Perspective for Thermal Energy Storage by Geographic Region/Country - Percentage Breakdown of Dollar Revenues for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)

III. MARKET

1. THE UNITED STATES

A. Market Analysis
The Urgent Need to Reduce Water and Electricity Consumption Drive Strong Demand for TES Solutions
Thermal Energy Storage to Offset Escalating Electricity Cost
Different Types of TES Systems for Use in CSPs
Rising Number of Thermal Energy Storage Projects Benefit Market Prospects
Efficiency of TES Highly Influenced by Climatic Conditions
New Emission Regulations Bodes Well for the Energy Storage Solutions Market
NYC Utility’s Ambitious Plans for Energy Efficiency

Table 24. Incentives under ConEd’s Demand Management Program by Storage Technology

Long-term Outlook for Solar Energy to Drive Demand
Favorable US Policies to Improve Solar Power Generation Capabilities
TES Solutions Offer Immense Potential for Earning Green Building LEED Certification
Dwindling Utility-Scale LCOE to Expand Scope for Thermal Energy Storage Technologies
Ice Cub & Ice Bear Energy Storage Systems: TES Innovations from Ice Energy
Energy Storage Market in the US: A Macro Perspective
Current Value and Application of Storage Systems
Impediments to Energy Storage
Product Launch
Strategic Corporate Developments
Select Key Players
B. Market Analytics
Volume Analytics

Table 25. US Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)

Table 26. US 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)

Value Analytics

Table 27. US Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)

2. CANADA

A. Market Analysis
Sunwell Technologies Inc. – A Major Canada-Based Company
B. Market Analytics
Volume Analytics

Table 28. Canadian Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)

Table 29. Canadian 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)

Value Analytics

Table 30. Canadian Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)

3. JAPAN

A. Market Analysis
Japan’s Focus on Renewable Energy Drives Healthy Market Growth for TES Systems
B. Market Analytics
Volume Analytics

Table 31. Japanese Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)

Table 32. Japanese 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)

Value Analytics

Table 33. Japanese Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)

4. EUROPE

A. Market Analysis
Europe’s Goal to Reduce Carbon Emissions Boost Demand for Thermal Energy Storage
Three TES-based Approaches Proposed for Improving Energy Efficiency
Potential of Thermal Energy Storage Undermined by European Regulatory System
Review of Select Markets in Western Europe
Germany
The UK
Product Launch
Strategic Corporate Developments
Select Key Players
B. Market Analytics
Volume Analytics

Table 34. European Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)

Table 35. European 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)

Value Analytics

Table 36. European Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)

5. ASIA-PACIFIC

A. Market Analysis
Unpenetrated and Underpenetrated Asian Countries Offer Huge Untapped Market Growth Opportunities
Need for Technological Improvements for Realizing Cost Reductions
Flourishing Solar Power Market Offers Growth Opportunities
Review of Select Markets in the Region
China
India
Australia
Select Key Players
B. Market Analytics
Volume Analytics

Table 37. Asia-Pacific Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)

Table 38. Asia-Pacific 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)

Value Analytics

Table 39. Asia-Pacific Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)

6. REST OF WORLD

A. Market Analysis
Thermal Energy Storage to Deliver Reliable and Affordable Electricity in South Africa
Recent Industry Activity
DC Pro Engineering LLC – A Key UAE-Based Company
B. Market Analytics
Volume Analytics

Table 40. Rest of World Recent Past, Current & Future Analysis for Thermal Energy Storage by Technology - Sensible Heat and Others Markets Independently Analyzed with Capacity Installations in Megawatts for Years 2015 through 2024 (includes corresponding Graph/Chart)

Table 41. Rest of World 10-Year Perspective for Thermal Energy Storage by Technology - Percentage Breakdown of Capacity Installations (MW) for Sensible Heat and Others Markets for Years 2015, 2017 & 2024 (includes corresponding Graph/Chart)

Value Analytics

Table 42. Rest of World Recent Past, Current & Future Analysis for Thermal Energy Storage Analyzed with Annual Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)

IV. COMPETITIVE LANDSCAPE

Total Companies Profiled: 47 (including Divisions/Subsidiaries - 50)
The United States (26)
Japan (1)
Europe (12)
  France (2)
  Germany (4)
  Spain (1)
  Rest of Europe (5)
Asia-Pacific (Excluding Japan) (9)
Middle East (2)